🌐 Franklin Templeton Expands Blockchain Ventures
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🔷 Franklin Templeton’s New Integration
- Launched the Franklin Onchain U.S. Government Money Fund (FOBXX) on the Avalanche network
- $1.6 trillion AUM firm continues to embrace blockchain in traditional finance
- First U.S.-registered mutual fund to use public blockchain for transactions and share ownership
🔷 Avalanche’s Growing Ecosystem
- Avalanche known for sub-second transaction finality and low fees
- Attracting major financial institutions like Franklin Templeton
- Integration enhances the $402 million FOBXX accessibility via the Benji Investments app
🔷 Tokenized Asset Growth
- U.S. money market fund sector now boasts $1.81 billion in tokenized holdings
- Expansion follows recent integration with Arbitrum L2 network announced on August 8, 2024
🔷 Significance in Finance
- Marks a significant step in merging traditional finance with blockchain technology
- Reflects growing institutional interest in onchain financial services
Stay updated on how Franklin Templeton continues to innovate in the blockchain space!
